| Criteria | NON-PRIME ≤ 80% | NON-PRIME >80% |
| NonQM Profile Category | Fresh Start; Low Score; Non Warrantable Condo | Fresh Start; High LTV; Non Warrantable Condo |
| Documentation | Full | Full |
| Maximum Loan Amount | 1MM | 750K |
| Loan Term/Mortgage Rate Type | 30 yr fixed or 5/1 ARM | 30 yr fixed or 5/1 ARM |
| Interest Only | N/A | N/A |
| Bankruptcy Seasoning | N/A | N/A |
| DTI | 40/50% Investment properties 50% | 40/50% |
| Credit Score (min) | 500 | 600 |
| Foreclosure, Short Sale, Deed-in-Lieu | No Seasonong | 12 Months |
| Occupancy | Owner-Occupied, Second Home or Investmnet Property | Owner-Occupied |
| Min. Reserves | 3 months, 6-12 months under certain circumstances | 3 months, 6-12 months under certain circumstances |
| Residual Income (min) | $1,500 | $1,500 |
| Max Payment Shock | 350% | 350% |
| Mortgage (or rent) Payment History | 120’s allowed in past 12 months 0x30 FTHB | Max 1 x 30 x 12 |
| Rent Free | Eligible | Eligible |
| Max LTV | 80% | 90% |
| Gift Funds | Allowed | Allowed |
| Max Cash in Hand | $500K | N/A |
| Non Warrantable Condos | Available | Available |
| Marketing | 75% LTV for credit scores down to 500 80% LTV for credits scores at 540 | Debt Consolidation up to 90% LTV |
| Operational | Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) | Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) |
Angel Oak:
Bill Parnell
Direct: 925-726-9123
Email: Bill.Parnell@angeloakms.com
